Global Point-of-Care Molecular Diagnostics Market is valued at approximately USD 3.05 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 11.43% over the forecast period 2022-2029. Point-of-care testing (POCT) is a type of examination in which the study is carried out at the site where medical care is provided to the patient. The Point-of-Care Molecular Diagnostics market is expanding because of factors such as increasing incidence of chronic diseases and rising demand for Point-of-Care Molecular Diagnostics.

According to the March 2020 report of the European Centre for Disease Control and Prevention, 52,862 new tuberculosis cases were reported in 2018 in 30 EU and European Economic Area (EU/EEA) nations, with a reporting rate of 10.2 per 100,000 individuals in the EU/EEA, A DNA amplification test, culture, or smear verified 36,047 cases of tuberculosis out of the total diagnosed cases in 2018. (Polymerase chain reaction test). However, lack of high-complexity test centers in POC molecular testing and uncertain reimbursement scenarios may halt market growth. Further, the market for the Global Point-of-Care Molecular Diagnostics may be fueled by Advancements in Formulation and investments in the R&D center

The key regions considered for the Global Point-of-Care Molecular Diagnostics Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the space in terms of revenue, owing to rising prevalence of cancer. For instance: According to National Cancer Institute, the number of cancer patients went from 18.1 million cases, in the year 2018 to 29.5 million cases, by the year 2040. Whereas, Asia Pacific is expected to grow significantly during the forecast period, owing to emergence of established players in the region.

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Major market players included in this report are:

Meridian Bioscience Inc

Abbott Laboratories

Siemens Healthineers

F. Hoffmann-La Roche Ltd

Becton, Dickinson, and Company

Danaher Corporation

BioMerieux

Agilent Technologies

OraSure Technologies Inc.

Thermo Fisher Scientific

Recent Developments in the Market:

For the commercialization of the Veros COVID-19 test in the UK, Sense Biodetection and Una Health (Una) entered into a strategic partnership in February 2022. The main aim of this partnership agreement was to provide the end-users with various innovative solutions.
FIND invested USD 21 million in Biomeme, Bioneer, Qlife, and SD Biosensor in December 2021 to accelerate research, manufacturing, and release of low-cost point-of-care molecular detection platforms that can identify a number of disease-causing pathogens, including COVID-19.
Global Point-of-Care Molecular Diagnostics Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

Segments Covered: Application, Technology, End-User and Region

Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World

Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology:

PCR

Genetic Sequencing

Hybridization

Microarray

By Application:

Infectious Diseases

Oncology

Hematology

Prenatal Testing

Endocrinology

Other Applications

By End-User:

Hospitals

Homecare

Other End-Users

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World